BT ups year estimates after Q2

Telecoms titan BT increased earnings forecasts for the full-year after bumping up profits by 13% during the second quarter.Adjusted profit before tax climbed to £496m in the three months ended 30 September from £440m a year ago. That compared with 17% growth in the first quarter. Profit on a reported basis was up 48% to £406m. Adjusted revenue fell 3% to £4.98bn as the firm lost out to rivals in landline sales.Cost cutting helped earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for one off charges, add 3% to £1.45bn, taking the six-month total to £2.85bn. That was enough for the company to increase its prediction for full-year adjusted EBITDA to around £5.8bn.It was a good period for BT Broadband, with net additions of 114,000, representing a 45% market share of Digital Subscriber Line (DSL) and Local loop unbundling (LLU) net additions, one of the group's highest shares ever.BT also expects to achieve its outlook for free cash flow of £2bn this financial year, two years early.Order intake at the Global Services business was up 50% at £2.1bn, said chief executive Ian Livingston. EBITDA at the unit was up 45% to £138m though sales slipped 2% to £1.99bn.Earnings fell 8% at the retail business to £414m as revenue dropped 4% to £1.93bn.There's an interim dividend of 2.4p per share, up 4%.